Apa Group · ASX:APA
Apa — Australian Pipeline Trust — Shareholder Meeting (October 2001)
20 slides from Apa's shareholder meeting presentation, Oct 24, 2001
Slide 1: Australian Pipeline Trust Unitholder General Meeting
Australian Pipeline Trust Unitholder General Meeting George Bennett Chairman Sydney, 24 October 2001 Australian Pipeline Trust 1
Slide 2: Key Financial Data
Key Financial Data Appendix Appendix Financial Offer Change 4B 4B Report Document June 2000 June 2001 Actual Forecast $ mill $ mill $ mill $ mill % Pipeline Revenue 8.7 173.8 182.5 175.4 4.0% Other Pipeline Revenue 3.9 61.5 65.4 69.7 (6.2%) Other Revenue 1.3 14.0 15.3 12.8 19.5% Total Revenue 13.9 2
Slide 3: Cont'd Key Financial Data
Cont’d Key Financial Data Appendix Appendix Financial Offer Change 4B 4B Report Document June 2000 June 2001 Actual Forecast $ mill $ mill $ mill $ mill % a EBIT 5.8 103.6 109.4 102.5 6.7% Income Tax Expense (1.5) (22.3) (23.8) (21.4) 11.2% Operating Profit after Tax 2.3 30.7 33.0 25.5 29.4% and Min
Slide 4: Key Financial Ratios
Key Financial Ratios Year ended 30 June 2001 Actual Offer Document Margins (%) EBITDA/Pipeline Revenue 54.2 52.3 Pre-Tax/Pipeline Revenue 22.6 19.2 Gearing EBIT/Net Interest 2.1 x 2.1 x Net Debt/(Net Debt + Equity) 61.9% 60.7%* NTA per unit $1.82 $1.91* * From 4B report of 30 June 2000. Australian P
Slide 5: Q4 Distribution Increased
Q4 Distribution Increased FY Distribution Exceeds Offer Document Total paid Final Actual Offer Cents per unit to 30.6.01 Q4 01 FY 01 Doc. Total Distribution 16.00 6.00 22.00 21.50 Income Distribution 7.90 5.00 12.90 10.50 - Franked 1.83 cpu Capital Distribution 8.10 1.00 9.10 11.00 Australian Pipeli
Slide 6: 2001 Operating Highlights
2001 Operating Highlights ! Achieved a solid financial performance ! Acquired 15% minority interest - Roma to Brisbane ! Completed the 110 km Peat lateral pipeline " Gas to BP Bulwer Island clean fuel facility ! Commenced lateral and expansion, near Brisbane " Gas to CS Energy Ltd Swanbank Power Sta
Slide 7: Unitholder General Meeting
Australian Pipeline Trust Unitholder General Meeting Australian Pipeline Trust 7
Slide 8: Unitholder General Meeting - CEO
Australian Pipeline Trust Unitholder General Meeting J K McDonald Chief Executive Officer Sydney, 24 October 2001 Australian Pipeline Trust 8
Slide 9: Outline
Outline ! Positive and Profitable YEJ2001 ! Strong position YEJ2002 ! Australia must get energy policy settings right Australian Pipeline Trust 9
Slide 10: Pipeline Trust
Australian Pipeline Trust 10 10
Slide 11: Timor Sea & PNG
Timor Sea & PNG Australian Pipeline Trust 11 11
Slide 12: Gas is a Growth Industry - BUT
Gas is a Growth Industry - BUT ! 3.4% per annum growth to 2020 (ABARE) ! Underlying 2.48% per annum growth ! Power Gen increase 4.9% p.a. " First decade 3.5% p.a. " Second decade 6.5% p.a. ! Changed expectations Australian Pipeline Trust 12
Slide 13: Pipeline Trust
A u stra lian P ip e lin e T ru s t S o u rce : P o w e rlin e G E S 11 Australian Pipeline Trust 13
Slide 14: National Energy Strategy
National Energy Strategy ! Support for natural gas ! Stable environment for investment ! Removal of disincentives to invest ! Creation of incentives for gas Australian Pipeline Trust 14
Slide 15: Regulatory Impact
Regulatory Impact ! Pipeline access rules and tariffs ! De facto policy maker ! Distribution of investment assumptions ! Damaging to relationships " Customers " Governments " Bureaucracy ! Costly to company and community Australian Pipeline Trust 15
Slide 16: Major Projects - EPU effect
Major Projects - EPU effect Required ROR % 10 8 6 Project Years 5 10 15 20 Australian Pipeline Trust 16
Slide 17: Summary
Summary ! A strong Australian business with its own identity ! Strong market position ! Major projects under consideration ! Strong growth potential in a growth business ! Focused strategy for our business in Australia Major challenge ! Policy and regulatory settings Australian Pipeline Trust 17
Slide 18: Gas Transmission Industry Leader
Australian Pipeline Trust ‘Gas Trasmission Industry Leader’ Australian Pipeline Trust 18
Slide 19: Unitholder Questions
Unitholder Questions Australian Pipeline Trust 19
Slide 20: www.pipelinetrust.com.au
www.pipelinetrust.com.au Thank you for your attendance. Australian Pipeline Trust 20
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